Home   Browse contents   View updates   Search  
     Quick search
Go
   

Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
General Module (GEN) [VER44/07-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

BackText onlyPrint

You need the Flash plugin.

Download Macromedia Flash Player



  • GEN 4.2 The Principles for Authorised Firms

    • Principle 1 — Integrity

      • GEN 4.2.1

        An Authorised FirmG must observe high standards of integrity and fair dealing.


        Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]

    • Principle 2 — Due skill, care and diligence

      • GEN 4.2.2

        In conducting its business activities an Authorised FirmG must act with due skill, care and diligence.


        Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]

    • Principle 3 — Management, systems and controls

      • GEN 4.2.3

        An Authorised FirmG must ensure that its affairs are managed effectively and responsibly by its senior management. An Authorised FirmG must have adequate systems and controls to ensure, as far as is reasonably practical, that it complies with legislation applicable in the DIFCG .


        Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]

    • Principle 4 — Resources

      • GEN 4.2.4

        An Authorised FirmG must maintain and be able to demonstrate the existence of adequate resources to conduct and manage its affairs. These include adequate financial and system resources as well as adequate and competent human resources.


        Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]

    • Principle 5 — Market conduct

      • GEN 4.2.5

        An Authorised FirmG must observe proper standards of conduct in financial markets.


        Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]

    • Principle 6 — Information and interests

      • GEN 4.2.6

        An Authorised FirmG must pay due regard to the interests of its customers and communicate information to them in a way which is clear, fair and not misleading.


        Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]

    • Principle 7 — Conflicts of interest

      • GEN 4.2.7

        An Authorised FirmG must take all reasonable steps to ensure that conflicts of interest between itself and its customers, between its EmployeesG and customers and between one customer and another are identified and then prevented or managed, or disclosed, in such a way that the interests of a customer are not adversely affected.


        Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
        [Amended] DFSA RM95/2012 (Made 14th June 2012). [VER29/06-12]

    • Principle 8 — Suitability

      • GEN 4.2.8

        An Authorised FirmG must take reasonable care to ensure the suitability of its advice and discretionary decisions for customers who are entitled to rely upon its judgement.


        Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]

    • Principle 9 — Customer assets and money

      • GEN 4.2.9

        Where an Authorised FirmG has control of or is otherwise responsible for assets or money belonging to a customer which it is required to safeguard, it must arrange proper protection for them in accordance with the responsibility it has accepted.


        Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]

    • Principle 10 — Relations with regulators

      • GEN 4.2.10

        An Authorised FirmG must deal with RegulatorsG in an open and co-operative manner and keep the DFSAG promptly informed of significant events or anything else relating to the Authorised FirmG of which the DFSAG would reasonably expect to be notified.


        Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]

    • Principle 11 — Compliance with high standards of corporate governance

      • GEN 4.2.11

        An Authorised FirmG must have a corporate governance framework as appropriate to the nature, scale and complexity of its business and structure, which is adequate to promote the sound and prudent management and oversight of the Authorised Firm'sG business and to protect the interests of its customers and stakeholders.

        [Added] DFSA RM43/2007 (Made 1st June 2007). [VER14/06-07]
        [Amended] DFSA RM95/2012 (Made 14th June 2012). [VER29/06-12]

        • GEN 4.2.11 Guidance

          Corporate governance framework encompasses structural and procedural arrangements such as systems, policies and practices that are put in place to promote good governance and include the specific measures required under GEN Rule 5.3.30.

          [Added] DFSA RM95/2012 (Made 14th June 2012). [VER29/06-12]

    • Principle 12 — Remuneration practices

      • GEN 4.2.12

        An Authorised FirmG must have a remuneration structure and strategies which are well aligned with the long term interests of the firm, and are appropriate to the nature, scale and complexity of its business.

        [Added] DFSA RM95/2012 (Made 14th June 2012). [VER29/06-12]